Hudbay Minerals Inc. (NYSE:HBM) Receives Average Rating of “Buy” from Analysts

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $9.75.

A number of equities analysts have recently commented on the stock. Stifel Nicolaus started coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They issued a “buy” rating on the stock. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Tuesday, April 9th. Finally, Raymond James raised their target price on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a report on Wednesday, March 20th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in shares of Hudbay Minerals by 2,894.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,330 shares of the mining company’s stock valued at $26,000 after acquiring an additional 5,152 shares during the last quarter. U S Global Investors Inc. acquired a new position in Hudbay Minerals in the third quarter worth $29,000. Register Financial Advisors LLC bought a new stake in Hudbay Minerals during the first quarter valued at $35,000. Osaic Holdings Inc. raised its holdings in shares of Hudbay Minerals by 290.9% during the second quarter. Osaic Holdings Inc. now owns 8,185 shares of the mining company’s stock worth $39,000 after purchasing an additional 6,091 shares during the period. Finally, Banque Cantonale Vaudoise raised its holdings in shares of Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after purchasing an additional 1,806 shares during the period. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Stock Performance

Shares of NYSE:HBM opened at $7.88 on Friday. The firm has a market capitalization of $2.77 billion, a PE ratio of 39.40, a P/E/G ratio of 0.75 and a beta of 1.95. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $8.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87. The business has a 50-day moving average of $6.53 and a two-hundred day moving average of $5.48.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The firm had revenue of $602.20 million during the quarter, compared to the consensus estimate of $552.74 million. During the same quarter in the prior year, the company earned $0.01 EPS. The company’s revenue was up 87.5% on a year-over-year basis. As a group, research analysts forecast that Hudbay Minerals will post 0.44 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.0074 per share. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is currently 5.00%.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.